RFL

EX-99.1

2 ea030996101ex99-1.htm PRESS RELEASE, DATED OCTOBER 29, 2026, REPORTING THE RESULTS OF OPERATIONS FOR THE FISCAL QUARTER AND FISCAL YEAR ENDED JULY 31, 2026

Exhibit 99.1

Rafael Holdings Reports Fourth Quarter and Full Year Fiscal 2026

Financial Results and Provides Corporate Update

NEWARK,

NJ – October 29, 2026 (GLOBE NEWSWIRE) - Rafael Holdings,

Inc. (NYSE: RFL) today reported its financial results for the fourth quarter and full fiscal year 2026 ended July 31, 2026.

Fiscal 2026 and Recent Corporate Highlights

●NDA submitted for remibetadex (Trappsol® Cyclo™). On October 28, 2026, Cyclo Therapeutics submitted a New Drug Application (NDA) to the FDA seeking approval of remibetadex for the treatment of Niemann-Pick Disease Type C. The NDA is supported by the Phase 3 TransportNPC™ study, completed in June 2026, which did not meet its primary endpoint in the overall population (p=0.19) but showed 71% slowing of disease progression in a prespecified analysis of patients receiving background miglustat and/or leucine therapy (p=0.046), and by an overall survival analysis versus matched registry controls. The NDA includes a request for a rare pediatric disease priority review voucher.

●MIT license in Alzheimer’s disease. In April 2026, Cyclo entered into an exclusive, worldwide license with the Massachusetts Institute of Technology for the use of hydroxypropyl-β-cyclodextrin in Alzheimer’s disease.

●LipoMedix. In June 2026, an investigator-initiated Phase II trial of Promitil® with radiotherapy in patients with cisplatin-ineligible head and neck cancer was launched in Israel.

●Rafael Medical Devices. Continued the U.S. commercial build-out of the FDA-cleared VECTR™ System, including its regional distributor network.

Rafael Holdings, Inc. Fourth Quarter Fiscal Year 2026 Financial Results

As of July 31, 2026, we had cash and cash equivalents of $22.1 million.

For the three months ended July 31, 2026, we recorded a net loss attributable to Rafael Holdings of $9.2 million, or $0.18 per share, versus a net loss of $12.1 million, or $0.28 per share in the year ago period. The year over year decrease in net loss is largely attributable to a decrease in general and administrative expenses.

Research and development expenses were $7.5 million for each of the three months ended July 31, 2026 and 2025.

General and administrative expenses were $2.4 million for the three months ended July 31, 2026, compared to $5.5 million in the year ago period. The year over year decrease relates to a decrease in payroll, stock-based compensation expense and professional fees.

Rafael Holdings, Inc. Full Fiscal Year 2026 Financial Results

For the twelve months ended July 31, 2026, we recorded a net loss attributable to Rafael Holdings of $29.6 million, or $0.58 per share, versus a net loss of $30.5 million, or $1.04 per share in the year ago period. The year over year decrease in net loss reflects a $4.4 million gain on Cornerstone’s settlements of accounts payable and convertible notes payable and the absence of prior-year unrealized losses on our investment in Cyclo, partially offset by higher research and development expenses following the consolidation of Cyclo Therapeutics in March 2025.

Research and development expenses were $24.3 million for the twelve months ended July 31, 2026, compared to $12.8 million in the year ago period. The year over year increase was primarily attributable to a $13.4 million increase in Cyclo’s research and development expenses in fiscal 2026, as well as an increase in R&D stock-based compensation expense of $0.4 million, offset by decreases in R&D payroll of $1.5 million, and in clinical trial and other expenses of $0.8 million.

General and administrative expenses were $9.7 million for the twelve months ended July 31, 2026, compared to $13.8 million in the year ago period. The decrease of $4.1 million versus the prior year is primarily attributable to decreases in professional fees of $1.3 million, primarily due to merger-related costs in the prior year, stock-based compensation expense of $1.2 million, payroll expense of $0.6 million due to terminations, and other expenses.

About Rafael Holdings, Inc.

Rafael Holdings, Inc. is a biotechnology company that develops pharmaceuticals and holds interests in clinical and early-stage companies that develop pharmaceuticals and medical devices. Our lead candidate is remibetadex (Trappsol® Cyclo™), for which we have completed a pivotal Phase 3 study in Niemann-Pick Disease Type C (“NPC”) and submitted an NDA to the FDA in October 2026. NPC is a rare, fatal and progressive genetic disorder. We also hold interests in other clinical-stage and early-stage pharmaceutical development companies and an orthopedic-focused medical device company.

Forward Looking Statements

This press release contains forward-looking statements within the meaning

of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release

EX-99.1

2 ea029432001ex99-1.htm PRESS RELEASE, DATED JUNE 11, 2026, REPORTING THE RESULTS OF OPERATIONS FOR THE FISCAL QUARTER ENDED APRIL 30, 2026

Exhibit 99.1

Rafael Holdings Reports Third Quarter Fiscal 2026 Financial Results

NEWARK,

NJ – June 11, 2026 (GLOBE NEWSWIRE) - Rafael Holdings,

Inc. (NYSE: RFL) today reported its financial results for the third quarter fiscal year 2026 ended April 30, 2026.

“Yesterday, we were pleased to announce that we reached the completion of the last patient last visit of our pivotal Phase 3 TransportNPC™ trial, and we are grateful for the patients and families, advocacy organizations, and physicians who stood at the heart of this global effort. Together, we have advanced the clinical understanding of NPC, as well as the lived experience of this devastating disease, as we work to deliver a potentially life changing treatment option for a community with significant unmet need,” said Joshua Fine, Chief Operating Officer of Rafael Holdings. “We would also like to recognize the FDA for their long-term continued collaboration, and guidance in advancing this program.”

“Following our pre-NDA meeting with the FDA, we believe we have a clear and expedited path forward reflective of the urgency and unmet need in NPC and expect to submit our NDA in the second half of calendar 2026. NPC represents a high-unmet-need market, positioning Rafael Holdings to potentially unlock substantial, long-term value for our shareholders as we work toward transitioning Rafael Holdings into a commercial-stage biotechnology company,” said Howard Jonas, Chief Executive Officer, Executive Chairman and Chairman of the Board of Rafael Holdings.

Rafael Holdings, Inc. Third Quarter Fiscal Year 2026 Financial Results

As of April 30, 2026, we had cash and cash equivalents of $30.5 million.

For the three months ended April 30, 2026, we recorded a net loss attributable to Rafael Holdings of $4.2 million, or $0.08 per share, versus a net loss of $4.8 million, or $0.19 per share in the year ago period. The year over year increase in net loss is largely attributable to the consolidation of Cyclo Therapeutic’s expenses following the acquisition of Cyclo in March 2025.

Research and development expenses were $4.9 million for the three months ended April 30, 2026, compared to $3.0 million in the year ago period. The year over year increase relates to the inclusion in the current year period of research and development spending at Cyclo following the March 2025 acquisition.

General and administrative expenses were $2.1 million for the three months ended April 30, 2026, compared to $3.2 million in the year ago period. The year over year decrease relates to a decrease in payroll, stock-based compensation expense and professional fees during the quarter ended April 30, 2026, offset by the inclusion of expenses at Cyclo following the March 2025 acquisition.

Rafael Holdings, Inc. First Nine Months Fiscal Year 2026 Financial Results

For the nine months ended April 30, 2026, we recorded a net loss attributable to Rafael Holdings of $20.5 million, or $0.40 per share, versus a net loss of $18.4 million, or $0.73 per share in the year ago period. The year over year increase in net loss is attributable to the consolidation of Cyclo Therapeutic’s expenses following the acquisition of Cyclo in March 2025.

Research and development expenses were $16.9 million for the nine months ended April 30, 2026, compared to $5.3 million in the year ago period. The year over year increase relates to the inclusion in the current year period of spending at Cyclo following the March 2025 acquisition.

General and administrative expenses were $7.3 million for the nine months ended April 30, 2026, compared to $8.3 million in the year ago period. The decrease related to the inclusion of expenses at Cyclo following the March 2025 acquisition which was more than offset by reductions in payroll due to terminations and reduced stock-based compensation expense and professional fees.

About Rafael Holdings, Inc.

Rafael Holdings, Inc. is a biotechnology company that develops pharmaceuticals and holds interests in clinical and early-stage companies that develop pharmaceuticals and medical devices. Our lead candidate is Trappsol® Cyclo™, which is being evaluated in clinical trials for the potential treatment of Niemann-Pick Disease Type C1 (“NPC1”), a rare, fatal and progressive genetic disorder. We also hold interests in other clinical-stage and early-stage pharmaceutical development companies and an orthopedic-focused medical device company. Our lead candidate, Trappsol® Cyclo™, is the subject of an ongoing pivotal Phase 3 clinical trial.

Forward Looking Statements

This press release contains forward-looking statements within the meaning

of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including

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UNITED STATES

SECURITIES AND

EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 16, 2026

RAFAEL HOLDINGS,

INC.

(Exact name of registrant as specified in its charter)

Delaware

1-38411

82-2296593

(State or other jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

520 Broad Street

Newark, New Jersey

07102

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: 212 658-1450

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Securities registered pursuant to Section 12(b)-2 of the Exchange Act:

Title of each class

Trading Symbol

Name of each exchange on

which registered

Class B common stock, par value $0.01 per share

RFL

New York Stock Exchange

Item 2.02. Results of Operations and Financial Condition.

On March 16, 2026, Rafael Holdings, Inc. (the “Company”) distributed over a wire service and posted an earnings release to the investors page of its website (www.rafaelholdings.com) announcing its results of operations for the fiscal quarter ended January 31, 2026. A copy of the earnings release concerning the foregoing results is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

The Company is furnishing the information contained in this Report, including Exhibit 99.1, pursuant to Item 2.02 of Form 8-K promulgated by the Securities and Exchange Commission (the “SEC”). This information shall not be deemed to be “filed” with the SEC or incorporated by reference into any other filing with the SEC unless otherwise expressly stated in such filing. In addition, this Report and the press release contain statements intended as “forward-looking statements” that are subject to the cautionary statements about forward-looking statements set forth in the press release.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Document

99.1

Press Release, dated March 16, 2026, reporting the results of operations for the fiscal quarter ended January 31, 2026.

104

Cover Page Interactive Data File, formatted in Inline XBRL document.

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

RAFAEL HOLDINGS, INC.

By: /s/David Polinsky

Name: David Polinsky

Title: Chief Financial Officer

Dated: March 16, 2026

2

EXHIBIT INDEX

Exhibit Number

Document

99.1

Press Release, dated March 16, 2026, reporting the results of operations for the fiscal quarter ended January 31, 2026.

104

Cover Page Interactive Data File, formatted in Inline XBRL document.

3